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Citigroup plans 9.4% autocallable securities linked to Las Vegas Sands
By Susanna Moon
Chicago, Aug. 23 - Citigroup Inc. plans to price 9.4% autocallable equity-linked securities due Sept. 4, 2014 tied to Las Vegas Sands Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable quarterly.
The notes will be called at par plus interest if Las Vegas Sands shares close at or above the initial share price on any quarterly call date.
If the notes are not called and the final share price is at least 80% of the initial share price, the payout at maturity will be par in cash.
Otherwise, the payout will be a number of Las Vegas Sands shares equal to $10 divided by the initial share price or, at the issuer's option, an equivalent amount in cash.
Citigroup Global Markets Inc. is the agent.
The notes will price on Aug. 30 and settle three days later.
The Cusip number is 173095118.
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